Animoca Brands Secures $20 Million Investment for Mocaverse Project

Animoca Brands, a prominent player in the metaverse and gaming venture capital arena, has successfully raised $20 million in funding from a consortium of esteemed Web3 investors. This significant investment is poised to propel Animoca’s ambitious Mocaverse project forward.

A Web3 Investment Collaboration

The funding round was spearheaded by CMCC Global and saw participation from notable entities such as Kingsway Capital, Liberty City Ventures, and GameFi Ventures. Animoca Brands co-founder Yat Siu also joined the investment initiative in a personal capacity.

In recent years, Animoca Brands has emerged as a key player in the realm of non-fungible tokens (NFTs), blockchain gaming, and metaverse-related ventures. With support from major stakeholders like Singapore’s state investment fund, Temasek, Animoca has been actively driving innovation in the industry.

Empowering Web3-Native Tools

The primary objective of the Mocaverse project is to offer Web3-native tools, enabling users to create gaming and entertainment products within a dynamic digital ecosystem. Among the innovative offerings in development, Moca ID stands out as a standout product. Moca ID is an NFT collection designed to empower users to establish on-chain identities, granting them access to participate fully in the Mocaverse ecosystem.

The funds for this venture were generated through the sale of Simple Agreements for Future Equity (SAFEs), priced at approximately A$4.50 ($2.90) per unit. Notably, these SAFE instruments are structured to automatically convert into ordinary shares after a six-month period, aligning with Animoca’s long-term vision for the project.

As Animoca Brands continues to attract substantial investments and expand its presence in the evolving landscape of Web3 and metaverse technologies, the gaming and entertainment industry can anticipate exciting developments in the near future.